91–100 of 150 posts
SBF also wrote a later post about FTX US's balance sheet: https://sambf.substack.com/p/ftx-us-balance-update-2023-01-1... Is that post at all accurate or is it even more lies?
Money I got 100.000
Money I owe 90.000
Total +10.000
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> the crypto market is … so important Citation desperately needed.
Crypto is a 24/7 global, resilient payments network. It increases the velocity and transparency of money, which will have a huge impact on global economy. Also, if you think customers losing a $8B to FTX is bad, wait until you read about retail banks in the USA taking $30B a year from their customers: https://breckyunits.com/the-great-bank-robbery.html
Which crypto?
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They're lawyers and law professors, not humanities academics.
at least in UK universities law is a humanities discipline. perhaps it is different there
The way I see it, Alameda is the real criminal here. They clearly operated with the criminal intent to take the assets, and distribute who knows how. I think it's perfectly possible that SBF is just dumb, and Alameda exploited his stupidity. Once everything crashed, Alameda was all too happy to turn state's witness. SBF's best chance at this point is to secure his own plea deal with proof that Alameda is lying to the…
"Turns out Sam was the ghost all along!"
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What exactly is the upside of the scenario you're envisioning? Right now it just sounds like you wish the accredited investor rule didn't exist because it makes it harder to scam poor people.
I would use "scam" in the sense of offering unregistered securities. Not in the sense of willful fraud. In that sense yes I think the poors should have as much right to buy into a scam as the accredited investor.
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I'd love to know what his parents think of what he's doing. They're law professors at Stanford; they have to be aware of how utterly stupid this is, don't they?
His father is reportedly conflict-averse to the extreme and his mother wrote an article saying free will doesn't exist therefore people aren't responsible for their crimes.
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I would use "scam" in the sense of offering unregistered securities. Not in the sense of willful fraud. In that sense yes I think the poors should have as much right to buy into a scam as the accredited investor.
Again, what’s the upside here? The end result of that scenario is that money gets redistributed from poor people to people offering unregistered securities. Why is society better off if we allow this to happen?
The individual should not be forced at all steps to selflessly act in the benefit of society. There are a non-zero number of scenarios where unregistered securities have paid off to investors. Individuals should not be forced at every step to prove their acts benefit collectively society.
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The crypto grift isn't limited to FTX, it's nearly everywhere in crypto. My great-uncle (who's constantly trying to find the one big break that'll make him rich) was working on starting a crypto token before everything collapsed. He is in his seventies and knows nothing about tech or finance, but he knew crypto was the place for people who want to make quick cash. The whole industry has become a haven for grifters. T…
The government made this thing called "accredited investor" which is just code for not one of the poors. I wish it wasn't necessary for the poors to use crypto to moonshot on various grifts.
Here's some constructive feedback to make this more trustworthy: - Include a "View source" link to the source code for this document. Everyone makes mistakes and new information comes to light. You should provide a link to the GitHub source file used to generate this page, so that your readers can see the version history and all changes for the lifetime of the article since publication. - Include the actual sources.…
Thanks for the suggestions! I've implemented both, and I also reached out to the Forbes writer to let him know his link was broken.
Very cool use of Pug.
And thanks for following up with Forbes!
I've really enjoyed your stuff, but wasn't sure if you really cared about the truth or not. Now I know. Thank you! The world needs more journalists like you!
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Crypto is a 24/7 global, resilient payments network. It increases the velocity and transparency of money, which will have a huge impact on global economy. Also, if you think customers losing a $8B to FTX is bad, wait until you read about retail banks in the USA taking $30B a year from their customers: https://breckyunits.com/the-great-bank-robbery.html
>Crypto is a 24/7 global, resilient payments network. Man, your mind is gonna be blown when you realise that you can have that _right_ now! All you have to do is move to a first world country* *like the UK or any country in the EEA. US not included. I jest, but my point is serious. This is already a reality for anyone living in Europe. It's a political problem (is a 24/7 global payment network important to people in…
I know. It's embarrassing. I remember in New Zealand in 2011 had better payments tech than USA in 2023.